Gas Subsidiaries Update

The following updates are based on information released by Delek Group gas subsidiaries, Delek Energy Systems Ltd., Avner Oil & Exploration L.P and Delek Drilling L.P. All financial and business information is given only for the convenience of the reader. The only official financial and business information, is that which is included in the officially published immediate reports and financial reports of Delek Group and its gas subsidiaries, to the Israeli Securities Authority and the Tel Aviv Stock Exchange, in Hebrew. In the event of any conflict between financial and business information given on this site and the Hebrew published immediate reports, the Hebrew published immediate reports shall prevail. More on Delek Group's disclaimer.

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Final Abandonment of Pinnacles 1

Tel Aviv, August 04, 2013. Delek Group's gas subsidiaries announced that on August 2, 2013, they were notified by the Operator, Noble Energy Mediterranean, that due to significant increase in the water flow rate in the production of natural gas from Pinnacles 1 well, it has decided to close the bar, and prepare for final abandonment. Abandonment operations are planned to be performed during 2014, after obtaining the necessary permits and obtaining material and equipment required for that. Gas subsidiaries are working on completing updated estimates of the Yam Tethys reserves and resources and will publish complement immediate report upon receipt.

For more information please see the immediate reports as published on TASE.

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